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Bogopa Enterprises And Shorewood Real Estate Group Secure $60M Construction Loan From Affinius Capital
FINANCED
$60,000,000
New York
See Similar DealsMultiFamily
Financed 07/11/2025
FINANCED
Bogopa Enterprises And Shorewood Real Estate Group Secure $60M Construction Loan From Affinius Capital
34 20 Junction Boulevard
See Similar DealsMultiFamily
Financed 07/11/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a multifamily residential project consisting of 125 units, located at 34-20 Junction Boulevard in the Jackson Heights market of Queens. The total loan amount secured for this project is $60,000,000 and falls under construction loan type.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $60,000,000
- Address: 34-20 Junction Boulevard
- Market: Jackson Heights, Queens
- Lender: Affinius Capital
- Landlord: S. Lawrence Davis - Shorewood Real Estate Group
- Co-Landlord: Spencer An - Bogopa Enterprises
- Units: 125
The deal features S. Lawrence Davis representing Shorewood Real Estate Group and Spencer An representing Bogopa Enterprises, both of whom play key roles in the transaction securing the construction financing needed for this residential project.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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